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Duke Energy, Amazon, Google, Microsoft, and Nucor Sign Agreements to Boost Clean Energy Options in Response to Increasing Demand

Duke Energy partners with Amazon, Google, Microsoft, and Nucor to accelerate carbon-free energy generation in the Carolinas.
PR Newswire

Collaborative Agreement To Accelerate Clean Energy Options

Duke Energy, Amazon, Google, Microsoft, and Nucor have announced partnerships to explore innovative methods that encourage carbon-free energy generation. The aim is to assist utilities in meeting large businesses’ future energy demands in North Carolina and South Carolina. The announcement was made during the White House Summit on Domestic Nuclear Deployment.

Memorandums of Understanding

Memorandums of Understanding (MOUs) signed this month propose the development of new rate structures, or “tariffs”, aimed at reducing the long-term costs of investing in clean energy technologies such as new nuclear and long-duration storage through early commitments.

Accelerating Clean Energy Tariffs

The proposed Accelerating Clean Energy (ACE) tariffs would empower large customers like Amazon, Google, Microsoft, and Nucor to directly support carbon-free energy generation investments. The novel financing structures and contributions are designed to mitigate project risk and reduce costs of emerging technologies. ACE tariffs would also enable beneficial on-site generation at customer facilities and participation in load flexibility programs, making them attractive to customers with large-scale energy needs.

Clean Transition Tariff

The ACE framework would also include a Clean Transition Tariff (CTT). This feature would allow Duke Energy to supply individualized portfolios of new carbon-free energy to commercial and industrial customers. The CTT would align clean-energy generation and customer load to hasten overall grid decarbonization. This voluntary program would include protections for non-participating customers.

Future Plans and Regulatory Approvals

The ACE tariffs would introduce new, voluntary pricing structures for Duke Energy’s large commercial and industrial customers. These tariffs would need regulatory approvals in North Carolina and South Carolina. Duke Energy plans to continue working with existing and potential customers who share similar energy needs and sustainability goals.

Corporate Commitments to Clean Energy

The agreement advocates for large-scale energy demand, with Duke Energy expressing dedication to finding innovative ways to meet the growing need for cleaner energy. Amazon, as the world’s largest corporate purchaser of renewable energy, strives to enable new sources of carbon-free energy. Google aims to operate every campus on clean electricity every hour of every day by 2030. Microsoft is committed to matching 100% of their electricity consumption with zero carbon energy purchases. Nucor, a sustainable steel producer, is excited to work with Duke Energy to bring the next generation of clean, reliable, safe, and affordable energy to their region.

About Duke Energy

Duke Energy (NYSE: DUK), headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. With the goal of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050, Duke Energy is executing an ambitious clean energy transition. The company is investing extensively in electric grid upgrades and cleaner generation, including energy storage, renewables, natural gas, and nuclear.

Original Story at finance.yahoo.com

Trending News

Mississippi River Faces Persistent Saltwater Intrusion, Region Seeks Long-Term Solutions



For the third consecutive year, the Mississippi River is experiencing significant saltwater intrusion, prompting local communities and environmental experts to search for sustainable solutions. This recurring issue arises as the river’s flow decreases, allowing saltwater to move upstream and threaten drinking water supplies. The U.S. Army Corps of Engineers is actively involved in addressing this problem, employing temporary measures like saltwater barriers to mitigate the impact on affected areas.



Saltwater infiltration poses serious risks to public health and agriculture, as freshwater sources become compromised. The situation is exacerbated by prolonged periods of drought, which have reduced freshwater flow in the Mississippi River. According to the National Weather Service, drought conditions have worsened due to climate change, increasing the frequency and severity of saltwater intrusion events.



Local authorities are collaborating with federal agencies to explore permanent solutions. Among the proposed strategies are enhanced levee systems and improved water management techniques. The U.S. Army Corps of Engineers is evaluating the feasibility of long-term infrastructure projects to prevent further saltwater encroachment. Additionally, community leaders are advocating for increased funding to support these initiatives and safeguard the region’s water resources.



The impact of saltwater intrusion extends beyond drinking water concerns, affecting local ecosystems and agricultural productivity. Farmers in the region have reported crop damage due to elevated salinity levels in irrigation water. The Natural Resources Conservation Service is working with farmers to implement adaptive practices, such as planting salt-tolerant crops and improving soil management techniques.



As the Mississippi River continues to face challenges from saltwater intrusion, stakeholders emphasize the importance of collaborative efforts and innovative solutions. The ongoing threat underscores the need for comprehensive planning and investment to protect one of America’s most vital waterways from the impacts of climate change and environmental stressors.

November 19, 2024



Environmental activists have raised concerns over the fossil fuel sector’s significant impact on COP29, the latest United Nations Climate Change Conference. Activists argue that the industry’s presence diverts focus from critical climate actions.



The conference, designed to promote global climate agreements, faces criticism for allowing fossil fuel companies to participate extensively. Environmental groups claim these companies undermine efforts to reduce carbon emissions and transition to renewable energy sources.



According to Climate Action Network, fossil fuel representatives have increased their lobbying activities, aiming to weaken climate policies. These industries allegedly influence negotiations, leading to watered-down commitments that fail to address the urgency of climate change effectively.



Experts suggest that the influence of these companies stems from financial contributions and longstanding relationships with decision-makers. Critics argue that this affects the conference’s ability to enforce meaningful climate change regulations.



During the event, several protests highlighted the need for transparency and a stronger focus on sustainable energy solutions. Activists are calling for increased participation of renewable energy stakeholders in future conferences.



The controversy surrounding fossil fuel involvement at COP29 underscores the ongoing challenge of balancing industrial interests with the global imperative to combat climate change.



November 19, 2024